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AUD/NZD holds near 1.1090

FXStreet (Córdoba) - The aussie rose modestly against the kiwi on Friday, but today resumed the decline approaching once again to a key short-term support. AUD/NZD is trading at 1.1105/10, 30 pips below Friday’s closing price.

AUD/NZD still under pressure

The pair is facing bearish pressure and could accelerate to the downside if the key short-term support located at 1.1090 is broken. The mentioned level capped the downside last week and also today. If it falls below it would be trading at the lowest level since October 23. Below the next support might lie at 1.1060/55.

AUD/NZD experimented a modest recovery since last Wednesday, moving away from 1.01090 but faced resistance at 1.1170/75 and turned to the downside. Today the pair was unable to rise above 1.1150, that has become the immediate resistance.

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